SM Energy (SM) EBITDA (2009 - 2026)
SM Energy (SM) posted quarterly EBITDA of -$298.0 million for Q1 2026, down 207.97% year-over-year from $276.0 million in Q1 2025, and down 263.45% quarter-over-quarter from $182.3 million in Q4 2025.
SM Energy (SM) EBITDA (2009 - 2026) Analysis & Trends
SM Energy (SM) has reported EBITDA for 18 consecutive years, with -$298.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, EBITDA fell 207.97% year-over-year to -$298.0 million; the TTM figure through Mar 2026 stood at $425.7 million (down 63.73% YoY), while the FY2025 annual figure was $1.0 billion, down 7.06% from the prior year.
- EBITDA declined to -$298.0 million in Q1 2026 per SM's latest filing, from $182.3 million in the prior quarter.
- Across five years, EBITDA topped out at $622.3 million in Q3 2022 and bottomed at -$298.0 million in Q1 2026.
- Historically, EBITDA has averaged $255.5 million across 5 years, with a median of $276.0 million in 2025.
- Annual changes were most pronounced in 2022 — EBITDA surged 392.87% — and 2026, when it tumbled 207.97%.
- SM Energy's EBITDA stood at $342.7 million in 2022, then fell by 9.53% to $310.0 million in 2023, then retreated by 7.33% to $287.3 million in 2024, then sank by 36.53% to $182.3 million in 2025, then tumbled by 263.45% to -$298.0 million in 2026.
- Business Quant data shows SM's EBITDA at -$298.0 million in Q1 2026, $182.3 million in Q4 2025, and $246.5 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 10.38 Bn |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 10.54 Bn |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 3.53 Bn |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 2.51 Bn |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 2.38 Bn |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | 6.02 Bn |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 3.19 Bn |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 394.04 Mn |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 196.62 Mn |
| 10 | SM Energy | 8.96 Bn | 8.19 Bn | 1.94 Bn | 1.50 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.50 Bn |
| Mar 31, 2026 | -298.00 Mn |
| Dec 31, 2025 | 182.32 Mn |
| Sep 30, 2025 | 246.48 Mn |
| Jun 30, 2025 | 294.91 Mn |
| Mar 31, 2025 | 276.00 Mn |
| Dec 31, 2024 | 287.27 Mn |
| Sep 30, 2024 | 330.95 Mn |
| Jun 30, 2024 | 279.38 Mn |
| Mar 31, 2024 | 178.40 Mn |
| Dec 31, 2023 | 310.01 Mn |
| Sep 30, 2023 | 195.60 Mn |
| Jun 30, 2023 | 209.35 Mn |
| Mar 31, 2023 | 272.05 Mn |
| Dec 31, 2022 | 342.66 Mn |
| Sep 30, 2022 | 622.28 Mn |
| Jun 30, 2022 | 512.81 Mn |
| Mar 31, 2022 | 101.74 Mn |
| Dec 31, 2021 | 474.41 Mn |
| Sep 30, 2021 | 126.26 Mn |